Overlay Shares Correlations

OVB Etf

USD 20.65 -0.10 -0.48%

Current 90-days correlation between Overlay Shares Core and ProShares SAMPP 500 is 0.38 (i.e., Weak diversification).Monitoring how Overlay Shares's correlations shift over time is a forward-looking risk management exercise, especially ahead of major economic events or earnings announcements.

Market Correlation Signal - Overlay Shares

Very weak diversification

Across the chosen horizon, OVB and DJI show a correlation of 0.4 and fall into the Very weak diversification bucket. In portfolio terms, the overlap visualization shows how much shared movement remains after both positions are combined.

Build AI portfolio with Overlay Etf

Your Equity Center provides context for diversified portfolio design. Clearer exposure analysis supports long-term portfolio balance. The allocation includes a position in Overlay Shares Core in the portfolio view. Also, note that the market value of any etf could be closely tied with the direction of predictive economic indicators such as signals in manufacturing.

Moving together with Overlay Etf

0.95	BND	Vanguard Total Bond	Pair Corr
0.95	AGG	iShares Core Aggregate	Pair Corr
0.89	BIV	Vanguard Intermediate	Pair Corr
0.95	SPAB	SPDR Portfolio Aggregate	Pair Corr
0.95	EAGG	iShares ESG Aggregate	Pair Corr
0.95	FLCB	Franklin Templeton ETF	Pair Corr
0.94	UITB	VictoryShares USAA Core	Pair Corr
0.95	DFCF	Dimensional ETF Trust	Pair Corr
0.92	JAGG	JPMorgan BetaBuilders	Pair Corr
0.94	AGGY	WisdomTree Yield Enhanced	Pair Corr
0.63	PFFL	ETRACS 2xMonthly Pay	Pair Corr
0.78	PFE	Pfizer Inc Aggressive Push	Pair Corr
0.9	MRK	Merck Company	Pair Corr
0.88	DD	Dupont De Nemours	Pair Corr
0.84	PG	Procter Gamble	Pair Corr
0.87	JNJ	Johnson Johnson	Pair Corr
0.8	GE	GE Aerospace	Pair Corr
0.76	WMT	Walmart Common Stock	Pair Corr
0.89	CVX	Chevron Corp	Pair Corr
0.82	T	ATT Inc Earnings Call Next Week	Pair Corr
0.86	XOM	Exxon Mobil Corp Aggressive Push	Pair Corr
0.8	MCD	McDonalds	Pair Corr

Moving against Overlay Etf

0.85	IBM	International Business	Pair Corr
0.81	AXP	American Express	Pair Corr
0.58	BAC	Bank of America Sell-off Trend	Pair Corr
0.56	DIS	Walt Disney	Pair Corr

Related Correlations Analysis

	OVM	THTA	OVF	FDAT	PSTR	APRJ	PSFJ	OVT	EGGY	SPXV
OVM		0.95	0.92	0.9	0.85	0.93	0.76	0.98	-0.2	0.2	OVM
THTA	0.95		0.89	0.86	0.81	0.93	0.7	0.96	-0.31	0.1	THTA
OVF	0.92	0.89		0.94	0.91	0.86	0.84	0.9	-0.12	0.32	OVF
FDAT	0.9	0.86	0.94		0.94	0.86	0.87	0.88	-0.04	0.39	FDAT
PSTR	0.85	0.81	0.91	0.94		0.81	0.95	0.83	0.05	0.57	PSTR
APRJ	0.93	0.93	0.86	0.86	0.81		0.71	0.93	-0.36	0.09	APRJ
PSFJ	0.76	0.7	0.84	0.87	0.95	0.71		0.74	0.14	0.72	PSFJ
OVT	0.98	0.96	0.9	0.88	0.83	0.93	0.74		-0.27	0.16	OVT
EGGY	-0.2	-0.31	-0.12	-0.04	0.05	-0.36	0.14	-0.27		0.58	EGGY
SPXV	0.2	0.1	0.32	0.39	0.57	0.09	0.72	0.16	0.58		SPXV
	OVM	THTA	OVF	FDAT	PSTR	APRJ	PSFJ	OVT	EGGY	SPXV

Please upgrade your account to get full access to Macroaxis premium features

Correlation Matchups

Over a given time period, the two securities move together when the Correlation Coefficient is positive. Conversely, the two assets move in opposite directions when the Correlation Coefficient is negative. Determining your positions' relationship to each other is valuable for analyzing and projecting your portfolio's future expected return and risk.

High positive correlations

OVT	+ 0.98	OVM
OVT	+ 0.96	THTA
THTA	+ 0.95	OVM
PSFJ	+ 0.95	PSTR
FDAT	+ 0.94	OVF
PSTR	+ 0.94	FDAT

High negative correlations

EGGY	- 0.36	APRJ
EGGY	- 0.31	THTA
EGGY	- 0.27	OVT
EGGY	- 0.2	OVM
EGGY	- 0.12	OVF
EGGY	- 0.04	FDAT

Overlay Shares Constituents Risk-Adjusted Indicators

There is a big difference between Overlay Etf performing well and Overlay Shares ETF doing well as a business compared to the competition. There are so many exceptions to the norm that investors cannot definitively determine what's good or bad unless they analyze Overlay Shares' multiple risk-adjusted performance indicators across the competitive landscape. These indicators are quantitative in nature and help investors forecast volatility and risk-adjusted expected returns across various positions.

	Mean Deviation	Jensen Alpha	Sortino Ratio	Treynor Ratio	Semi Deviation	Expected Shortfall	Potential Upside	Value @Risk	Maximum Drawdown
OVM	0.21	0.03	0.11	0.10	0.23	-0.22	0.38	-0.37	1.44
THTA	0.26	0.06	0.13	0.14	0.31	-0.34	0.81	-0.40	2.69
OVF	0.75	0.12	0.10	0.11	1.14	-0.72	1.32	-1.74	6.56
FDAT	0.51	0.06	0.08	0.08	0.60	-0.56	1.07	-0.93	3.46
PSTR	0.41	0.02	0.05	0.02	0.51	-0.43	0.72	-0.98	2.74
APRJ	0.07	0.01	0.21	0.14	0.00	-0.09	0.16	-0.12	0.40
PSFJ	0.25	0.01	0.04	0.01	0.33	-0.26	0.46	-0.60	1.74
OVT	0.16	0.02	0.11	0.10	0.18	-0.17	0.32	-0.28	1.37
EGGY	1.28	-0.05	0.00	-0.08	0.00	0.00	2.38	-3.52	11.44
SPXV	0.59	-0.01	0.00	-0.02	0.00	0.00	0.90	-1.34	3.81

Macroaxis helps investors of all levels and skills to maximize the upside of all their holdings and minimize the risk associated with market volatility, economic swings, and company-specific events. View terms and conditions

Feedback Blog

Made with optimal in San Francisco

2026 Macroaxis LLC